British chip designer Arm Ltd is targeting an initial public offering (IPO) valuation in the range of $60 billion to $70 billion as soon as September, according to Bloomberg sources familiar with the matter.
The IPO roadshow is scheduled to start the first week of September with pricing coming the following week, Bloomberg reported.
The SoftBank-owned chip maker filed confidentially with regulators for a U.S. stock market listing in April, setting the stage for the largest IPO of the year.
Arm plans to sell shares on Nasdaq later this year to raise between $8 billion and $10 billion, Reuters sources told in April.
Arm designs are used by most of the world's major semiconductor companies including Intel, AMD, Nvidia and Qualcomm. It remains unclear what impact any IPO investment by one or more of those companies would have on Arm's commercial relationships.
Earlier this year, Arm rebuffed efforts from the British government to list on the London stock exchange and said it would pursue a flotation on a U.S. exchange.
